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Retail 23-08-24

Max Fashion unveils unique clothing installation at largest store launch

24 August 2023, Mumbai

Dubai-based international fast-fashion retailer, Max Fashion, marked a significant milestone with the inauguration of its largest store in Kochi, India. At the event, the brand introduced a remarkable 6,000 sq. ft. installation called 'vastrakalam', a play on the traditional 'pookalam' design, typically crafted using flowers.

This innovative piece of art was created using over 8,000 items of clothing, showcasing Max Fashion's creativity and commitment to sustainable practices.

Catching attention

Max Fashion's 'vastrakalam', a clothing-based installation, captured attention at the launch of the brand's expansive Kochi store. Comprising more than 8,000 clothes and meticulously designed by Artist Dundhu, the installation was unveiled by South Indian actress Honey Rose. Notably, the installation embodies both artistic innovation and a charitable purpose.

After its display, the installation's clothing components will be donated to children in need through a partnership with an NGO, further aligning with Max Fashion's social responsibility initiatives.

Nuances

With the inauguration of its largest store spanning over 25,000 sq. ft. in Kochi, Max Fashion continues to solidify its presence in the Indian market. Originally launched in 2004 under the UAE-based Landmark Group, the retailer ventured into India in 2006 and now operates over 465 stores across 200 cities in the country.

Globally, the brand boasts more than 850 stores in 19 countries. Looking ahead, Max Fashion is poised for further expansion, aiming to introduce 100 new stores in the upcoming year, a testament to its ambitious growth strategy.

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Retail 23-08-24

Max Fashion unveils unique clothing installation at largest store launch

Prestige Group opens its first Forum Mall in Kerala

24 August 2023, Mumbai

The mall is located in Kochi and has a total area of 6.5 lakh square feet.

It was built at a cost of Rs 700 crore.

The mall opened its doors on August 20, 2023.

Unveiling

The Prestige Group, a leading real estate developer, has opened its first Forum Mall in the state of Kerala. The mall is located in Kochi and has a total area of 6.5 lakh square feet. It was built at a cost of Rs 700 crore.

One stop destination

The mall houses a variety of stores, including Shoppers Stop, Adidas, Aldo, Marks & Spencer, and 25 eateries and snack kiosks.

It also has a boutique hotel with 40 rooms operated by Marriot International.

The mall is expected to create around 1,500 employment opportunities in the region. Prestige Group plans to open four more malls in Bengaluru, Chennai, and Hyderabad in the coming years.

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Retail 23-08-24

Foreign brands to enter India in droves

21 August 2023, Mumbai

Retail activity in India is poised to surge as around 20 foreign brands are anticipated to make an entry within the next 6-8 months, doubling the yearly influx of about 10 brands seen prior to the pandemic.

Why are foreign brands drawn to India?

Foreign brands are drawn by India's enticing retail market, burgeoning affluence, and evolving consumer preferences. Major conglomerates like Reliance and Aditya Birla are keen on partnerships with overseas brands, with Reliance Brands leading the charge.

Despite global market slowdowns, India's retail sentiment remains upbeat

Despite global market slowdowns, India's retail sentiment remains upbeat, with expected growth in non-essential spending as the festive season approaches. A recent CBRE report revealed a 24% YoY increase in India's retail leasing activity for H1 2023, primarily driven by foreign and domestic brands.

The latter half of the year is projected to sustain strong double-digit leasing growth

The latter half of the year is projected to sustain strong double-digit leasing growth, aiming to reach 5.5-6 million sq. ft. by the end of 2023.

Numerous foreign labels, including Roberto Cavalli, Foot Locker, and Balenciaga, are eyeing Indian entry, often partnering with Reliance Brands. Mumbai, Delhi-NCR, Bengaluru, and Hyderabad are initial launch targets.

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Retail 23-08-21

Lux industries: Q1FY24 results

19 August 2023, Mumbai

Lux Industries Ltd reported a notable 67% surge in net profit, reaching Rs 17 crore ($2.1 million) for Q1 ending June 30.

This contrasts with the Rs 51 crore net profit in the previous year's corresponding period. The company's total income for the quarter exhibited an 8% increase, totaling Rs 525 crore compared to Rs 572 crore in the previous year.

Adapting to changing landscape

Pradip Kumar Todi, Managing Director at Lux Industries Ltd, addressed the results, recognizing the industry's near-term hurdles, and stressed the company's dedication to adjusting to evolving consumer preferences and industry patterns. Stable raw material prices have instilled optimism in Lux, projecting increased demand and profitability for the latter half of FY24.

Strengthening brand equity

Lux Industries is optimistic about bolstering its brand equity, leveraging successful brand endorsements that have contributed to market share gains. The company anticipates a surge in overall volume, driven by the approaching festive season.

A key player in the hosiery business

Operating renowned brands such as Genx, Lyra, and Onn, Lux Industries Limited stands as a prominent figure in the hosiery business. Amidst industry challenges, the company's strategic approach and brand strength continue to drive growth.

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Retail 23-08-19

Madame unveils exquisite Spring-Summer '24 Collection in Gurugram

23 August 2023, Mumbai

In Gurugram, Madame, India's premier women's fashion label, unveiled its exquisite Spring-Summer '24 Collection. The event showcased this season's trends through captivating mood boards.

Innovative Styles Meet Sustainability

This year's roadshow spotlighted fresh styles and sustainable fabrics, marking a departure from past editions. Exciting collaborations and eco-conscious partnerships took center stage, providing a glimpse into fashion's future.

A Captivating Showcase

The event was wowed with a range of designs, showcasing fashion creativity and drawing applause. Madame's Executive Director, Akhil Jain, emphasized the brand's commitment to innovation and sustainability.

Insights and Collaborations

Madame's partners, including Shoppers Stop and Reliance Retail, enriched the assembly with insightful product showcases. Attendees explored collection origins and fostered potential collaborations.

Beyond the Roadshow

The SS'24 Collection reached Madame admirers on social media, building anticipation for the upcoming season. Blending elegance, contemporary flair, and sustainable materials, it offers a unique fashion journey.

Ethical Fashion Dedication

Sustainability took center stage, reducing polyester use and emphasizing ethical fashion. The roadshow underscored Madame's role in the fashion arena, merging innovation and eco-consciousness.

Setting New Benchmarks

Madame's Spring-Summer '24 Roadshow solidified its stature in the fashion sector. With innovation, sophistication, and sustainability, the brand pushes boundaries and establishes new benchmarks.

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Retail 23-08-23

Club York expands retail footprint, opens new Agra store

19 August 2023, Mumbai

Fashion brand Club York has inaugurated a new store in Agra, situated on PaschimPuri Road, MK Puram, Sikandra. The store will feature an extensive collection of menswear, including polos, t-shirts, shirts, sweaters, sweatshirts, and track pants.

Expansion drive and ambitious goals

Club York's expansion strategy encompasses recent store openings in Malerkotla, Vrindavan, and Ludhiana, with a larger goal of launching 50 stores by 2025. With this expansion, the brand targets a revenue milestone of Rs 50 crore ($6.2 million) by 2025.

About Club York

Club York, founded in 2014 by Aayush Dhawan under the umbrella of parent company York Exports Ltd, focuses on delivering captivating fashion offerings to a broad audience.

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Retail 23-08-19

Indian Terrain reports for Q2FY24

19 August 2023, Mumbai

Chennai-based clothing manufacturer, Indian Terrain Fashions Ltd, encountered a net loss of Rs 3 crore ($360,271) in Q2 ending June 30, diverging from the Rs 2 crore net profit during the same quarter last year.

The company's revenue displayed a 7% decrease, totaling Rs 92 crore compared to Rs 99 crore in the previous fiscal period.

Strategic focus and confidence in prospects

There are plans to bolster retail-driven revenue and extend the company's presence in tier 2 and 3 towns and have confidence in the business's long-term growth and profitability potential.

Diverse retail presence

Indian Terrain presently operates through 236 exclusive outlets, 1,340 multi-brand outlets, 600 large-format stores, and prominent e-commerce platforms. The company's diverse retail network contributes to its market resilience.

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Retail 23-08-19

Flipkart launches Fashion Hub for Gen Z shoppers

22 August 2023, Mumbai

Flipkart, the prominent e-commerce giant, has taken a stride in catering to the preferences of Gen Z shoppers in India. The company has launched a new fashion hub called "Spoyl" that offers an extensive assortment of over 40,000 products spanning western attire, accessories, and footwear.

Spoyl is designed specifically for Gen Z shoppers, who are known for their global fashion inclinations, attraction to OTT content, and adoration for international celebrities. The platform features a variety of trends and styles, as well as personalized recommendations based on each shopper's unique preferences.

Spoyl uses technology to personalize the shopping experience for Gen Z shoppers. The platform uses artificial intelligence to recommend products based on each shopper's unique preferences. It also uses social media data to track trends and ensure that Spoyl is always up-to-date with the latest fashion.

Gen Z is a key demographic for e-commerce platforms

Gen Z is a major force in the Indian retail market, accounting for one out of three online shoppers. They are also more likely to make impulse purchases and value self-expression over conformity.

As a result, e-commerce platforms are increasingly focusing on Gen Z shoppers. In addition to Spoyl, Myntra has also launched a Gen Z-focused platform called FWD. Other platforms, such as Meesho, are also making changes to their offerings in order to appeal to this demographic.

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Retail 23-08-22

CoutLoot aims for robust growth with Rs 20 crore monthly revenue target

19 August 2023, Mumbai

E-commerce venture CoutLoot eyes an ambitious goal of achieving Rs 20 crore monthly revenue in the next two financial quarters.

PhyDigital

The Mumbai-based company, known for its diverse fashion offerings, also plans to enhance its offline presence by launching 100 brick-and-mortar CoutLoot stores within the next three quarters.

The move aims to transform local unorganized retailers into standardized outlets. Since its inception as a re-commerce platform in 2016, CoutLoot has transitioned into an e-commerce powerhouse, championing small retailers' digital integration and supply chain enhancement.

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Retail 23-08-19

Beverly Hills Polo Club adds Ranchi store for expansion

19 August 2023, Mumbai

Beverly Hills Polo Club, the Western wear brand, strengthens its presence in Jharkhand with a new store in Ranchi's Mall of Ranchi. This marks the brand's 20th store in India, showcasing its diverse collection.

Distinctive Store Design

The store features an open façade with an illuminated brand logo, complemented by large LED screens. The interior offers dedicated sections for men, women, and children, with a significant focus on the signature colorful polo shirts.

Elegant Interior

Adorned with dark wood accents, golden polo emblems, and a handbag display area, the interior exudes sophistication. The Summer 2023 collection combines athleisure-style logo sweaters with formal button-down shirts.

Recent Expansion

Beverly Hills Polo Club has been rapidly expanding its brick-and-mortar footprint, including recent openings in Bengaluru, Calicut, and Lucknow. The brand, founded in 1982, embraces an affordable luxury concept, drawing inspiration from Beverly Hills glamour and polo heritage.

Global Presence

With stores worldwide, including UAE, Egypt, and Turkey, Beverly Hills Polo Club's aesthetic resonates globally, blending luxury and sport.

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Retail 23-08-19

Retail sales in India grew 9% in July

22 October 2023, Mumbai

Retailers Association of India (RAI) released its 42nd Retail Business Survey on Saturday, according to the survey sales grew 9% year-on-year, led by QSRs, food and grocery, jewelry, and sports goods. South India saw the highest growth at 12%, followed by West India at 9%.

Apparel sales grew 8%, whereas End-of-season sales boosted sales in July. Retailers saw an uptick in business activity in the final week of July.

This was largely attributed to the commencement of their end-of-season sales. Early indications suggest that the upcoming festive season will be a busy one for retailers

Online-to-offline shopping becoming common

As consumer routines return to normalcy, a pattern of online-to-offline shopping is emerging. Customers are exploring products online but making purchases in physical stores. Brands are actively working to create a favorable shopping environment for customers.

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Retail 23-08-22

Uniqlo expands physical retail presence in India

Uniqlo to open 2 new stores in Mumbai; Uniqlo, the Japanese clothing brand, is expanding its physical retail presence in India by opening two new stores in Mumbai.The stores will be located at Phoenix Marketcity and Oberoi Mall. Uniqlo's expansion into India is a sign of the growing demand for international fashion brands in the country.

Uniqlo currently has eight stores in Delhi NCR.

The company plans to open more stores in southern markets, such as Bengaluru, Hyderabad, and Chennai.Uniqlo is also increasing its local sourcing efforts to meet the 30% domestic sourcing requirement set by the Foreign Direct Investment (FDI) policy.

Background:

Fast Retailing, Uniqlo's parent company, reported a 22% increase in profit over nine months.The company also raised its full-year profit forecast to a new record.

Retail 23-08-19

Uniqlo expands physical retail presence in India

V2 Retail reports for Q1FY24

19 August 2023, Mumbai

Value fashion retailer V2 Retail Ltd achieved a remarkable 335% surge in net profit, reaching Rs 5 crore ($601,109) for the quarter concluding on June 30, surpassing Rs 2 crore in the previous year.

Revenue climbs by 25%

The company's quarterly revenue ascended by 25% to Rs 264 crore, compared to the prior fiscal year's Rs 211 crore.

Strategic store moves

During April-June, V2 Retail inaugurated four stores and shuttered one, culminating in 105 stores nationwide.

Diverse product line

Established in 2001, V2 Retail offers womenswear, menswear, and children's wear. The brand has been bolstering its online presence and anticipates robust e-commerce contributions in the current financial year.

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Retail 23-08-19